July 22, 2024 | Read Online

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0. Data and calendar

All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).

All times are ET.

1. Crowdstrike stock -11% on Fri., -3% in the pre-market, as airlines struggle to restore operations

Google Finance: Crowdstrike.

Delta on Sun. canceled 1.25K flights beyond the 3.5K it had scrapped earlier.
8.5M machines were hit by the Crowdstrike bug, according to Microsoft.
Fortune 100 companies weigh switching to Crowdstrike alternatives.
Regulators, lawmakers raise alarm.

2. X working on option to disable links in replies, likely in effort to fight scams

X: Nima Owji.

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4. Only 4 new unicorns in June, slowest month in 2024

Crunchbase.

Including Huntress, Creatio, Create Music Group, and BillionToOne.
- All U.S., none in generative AI.
56 as of H1, vs. 50 in H1 2023, 47 in H2.

5. 25% of top websites fully restricting AI training via robots.txt

Consent in Crisis: The Rapid Decline of the AI Data Commons.

45% restriction in the Terms of Service of top websites in the C4 dataset, which, in practice, AI crawlers typically ignore.
Continued higher trend is expected.

6. Biden drops out, endorses Harris, whose odds jumps from 22% to 30%

Polymarket.

Cooper, Shapiro, Beshear, Kelly favorites to be running mate.
Sen. Manchin weighs rejoining Dems to run against Harris.
Challenges could be filed with Biden replaced: Speaker Johnson.

A majority of Democrats in Congress have publicly supported Harris as the nominee

NYT.

Donations to Democrats had its highest day for the 2024 cycle

Bloomberg.

7. Childlessness responsible for 2/3+ of drop in birth rate

WSJ.

8. Interesting videos, posts, and memes

Brand New Balaji: Trump/Biden, Jan 6

Trump assassination attempt, Secret Service failure, Inside the RNC, VC liquidity problem

9. Other headlines

AI

NVIDIA working on B20 chip for China compatible with U.S. rules.

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Tech

Google approached Ray Ban about putting Gemini AI on glasses.
Magic Leap cuts 75 jobs, including entire sales, marketing departments.

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Tech & law

Meta fined $220M by Nigeria over consumer, data laws.
Oracle agrees to pay $115M to settle consumer privacy lawsuit.

Biotech

IL-11 inhibition extends lifespan, improves muscle function in mice study.
Augmedix, AI healthtech, to be acquired by Commure for $139M.

Business

China cuts 7-day reverse repo rate from 1.8% to 1.7%.

Crypto

Messari CEO steps down after controversial political tweets.
POPCAT becomes 1st cat memecoin to hit $1B market cap.
Kamala Harris memecoin hits all-time high of $24M market cap.
Tornado Cash receives $2B in 2024 amid U.S. sanctions.

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U.S. politics

Secret Service says it denied Trump additional resources over 2 years.
Twitch reinstates Trump account after 3 years.
25M+ viewers tuned in to watch final night of RNC.
Trump's libel suit against Pulitzer Prize Board advances.

World

Israel shoots down missile from Yemen after striking Houthis.
Xi unveils sweeping plans to help finances of local governments.

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